Rhode Island Entrepreneur Secures Financing to Buy Subway Sandwich Shop Franchise

Need a loan to buy a Subway Sandwich Shop franchise? Newport Federal Savings Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Westerly, Rhode Island needed money to invest in a Subway Sandwich Shop franchise back in 2007. Newport Federal Savings Bank issued an SBA franchise loan. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

SUBWAY OF WESTERLY, INC.
WESTERLY, RI 02891

SBA Loan Lender

NEWPORT FEDERAL SAVINGS BANK
100 BELLEVUE AVE
NEWPORT, RI 02840

This lender issued this loan for a small business under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/25/2007

Loan Approval Gross Amount

$138,900

Loan Approval from the SBA

Of the total $138,900 loan amount, the SBA guaranteed $118,065.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Subway Sandwich Shop franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help generate 7 new jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Newport Federal Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Subway

Obtaining Funding - Friends and Family

SBA 7A Lenders in Newport, Rhode Island

Rhode Island SBA 7A Lenders